Overview of the South Deep Project September 2011 Our Vision and - PowerPoint PPT Presentation

Overview of the South Deep Project September 2011

Our Vision and Values To be the global leader in sustainable gold mining 2

Locality – Wits Gold Fields � Historic production: > 1 600 000 000 oz of gold � 4.5bn tons of ore treated at an average grade of 9.0g/t The Witwatersrand Gold Fields 3

Locality – South Deep Cooke Ezulwini Blyvooruitsicht Tautona Mponeng Kusasalethu Well established mining area 4

Overview Building a world class mine Outline Production and Capex Rbn (oz) � Massive underground orebody 800 2.5 � 81.5 Moz Resource 2.0 600 1.5 � 34.5 Moz Reserve 400 1.0 � Fully mechanised mine 200 0.5 � Build-up to 750koz run-rate by end of 2014 0 0.0 2009 A 2010 A 2011 E 2012 E 2013 E 2014 E � Life of Mine of 54 years Production (lhs) Capex (rhs) Capital Programme 2010 2011 2012 2013 2014 Status Refrigeration Plant Complete On-track Twin Vent Shaft Commissioned Tailings Storage Facility Plant Expansion On-track On-track New Mine Development 5

History � 1950: Prospecting in the area commenced � 1961: Production at Western Areas Gold Mine (WAGM) commenced � 1999: Placer Dome Western Areas (PDWA) Joint Venture (JV) formed � 2000: Name changed to South Deep Gold Mine � 2005: Twin Shaft Complex opened � 2006: Gold Fields acquired Barrick’s 50% JV interest in the PDWA JV � 2007: Gold Fields acquired all remaining WAL shares to own 100% of South Deep Gold Mine WAL listing terminated 6

Safety Safety Trends LDIFR FIIFR 25 1.2 21.29 0.93 20 0.8 15 10 0.4 5.78 5 2.8 0.12 2.4 1.82 0.07 0.06 0 0 0 F2008 F2009 F2010 F2011 C2011 F2008 F2009 F2010 F2011 C2011 SIFR 8 6.66 6 4 2.11 2 1.1 1.09 0.84 0 F2008 F2009 F2010 F2011 C2011 7

Our People � Employ approximately 3,700 people on operation � Diverse workforce � Well trained and qualified personnel � World class medical facilities � Wellness programme � “ 24 hours in the life of a miner” � Organised labour � 72% NUM, 15% UASA and 14% non affiliated 8

Sustainable Development Environmental Management � Management of environmental aspects in line with latest legislative requirements � Environmental Management Systems according to best practice international standards (ISO14001 certified) � Water Management part of regional strategy � International Cyanide Management Institute (ICMI) compliant 9

Geology General overview 10

Geology Vertical slice through the orebody The primary reef targets are the MB’s and the EC’s 11

Geology Exploration Programme � Surface exploration programme of R173 million Surface Pretoria Group Chuniespoo rt Group Black Reef Base at ± 1800mbc Klipriviersber g Group Base at ± VCR 3000mbc Upper D D3 D4 Elsburg 5 D1 D2 s D7 Orig. D D 6 8 12

Resources Measured & Indicated Resources Tonnes (Mt) Grade (g/t) Gold (‘000 oz) Classification Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09 Underground 41.5 7.7 10,331 Measured 40.5 41.6 7.4 7.4 9,684 9,890 6.6 53,523 Indicated (AI) 250.5 125.7 125.9 8.7 8.7 35,016 35,038 Total Above 292.0 6.8 63,854 166.2 167.5 8.4 8.3 44,700 44,928 Infrastructure 42.3 7.0 9,568 Indicated (BI) 92.6 92.6 6.3 6.3 18,898 18,898 Total Below 42.3 7.0 9,568 92.6 92.6 6.3 6.3 18,898 18,898 Infrastructure 334.3 6.8 73,422 Grand Total 258.8 260.1 7.6 7.6 63,598 63,826 13

Resources Inferred Resources Tonnes (Mt) Grade (g/t) Gold (‘000 oz) Classification Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09 Underground Inferred AI 17.2 78.0 78.0 6.3 5.8 5.8 3,460 14,566 14,566 21.8 - - 6.5 - - 4,572 - - Inferred(BI) 39.0 78.0 78.0 6.4 5.8 5.8 8,032 14,566 14,566 Grand Total Total Measured, Indicated & Inferred Resources Tonnes (Mt) Grade (g/t) Gold (‘000 oz) 373.3 336.8 338.1 6.8 7.2 7.2 81,454 78,164 78,392 Grand Total 14

Resources Approximately one third of those of Gold Fields, AngloGold Ashanti and Barrick Resources (Moz) 280 240 200 160 120 80 40 0 ______________________ Source: Goldval.com as at September 2010

Mining Philosophy Mining a massive orebody at depth Backfilling De-stress mining Large backfilled stope Mechanisation Mechanisation 16

Mine Design and Scheduling Reserving a great orebody Conventional Drifts & Drives Conventional Breast Mining Apparent Dip Drifts & Drives with Benching Conventional Destress Stoping Trackless Drifts & Benches Longhole Stoping Down Dip Accessed Conventional Composite Mining Destressing 17

Mining Methods – Drift and Bench Mining 1 Primary drift mining Drift access Bench access 2 3 Bench mining Bench access Mining direction Mining direction

Mining Methods – Destress Mining Stoping-drive mining 1 Main-access-drive Stoping-drive Recently filled stoping drive 2.2m 3 Stoping-drive completion 2 Advance stope-access-drive

Mining Methods – Longhole stoping • • Slot access Longhole stope access 1 2 Slot development Slot raise Slot development Stoping Stoping 3 4 5 Completed slot

Mine Design and Scheduling 105 Development of intake and conveyer infrastructure Development towards the Wrench fault (105 & 105 levels) Build-up in Phase-1 NoW Current to October 2015

Mine Design and Scheduling 105 SoW commence Jan 2013 110 Level Decline to SoW commence in October 2012 Continuation of the Phase-1 NoW at ~220Kt/m Destress mining accessed from 105 Level South of the Wrench fault Current to Jan 2019

Mine Design and Scheduling 110 Level mining reaching SoW in 2020 Stoping on the four corridors South of Wrench (West Block-B) Infrastructure development on 95 and 93 levels to access the Eastern portion of Phase-1 SoW (Block-A) Start date Jan 2023 Current to Jan 2035

Mine Design and Scheduling VCR mining Stoping in Phase-2 Stoping in the Eastern portion of Phase-1 SoW (Block-A) Current to Jan 2050

Mine Design and Scheduling Completion of Phase-2 Completion of Phase-1 SoW (Block – A) Current to Dec 2067

Mine Design and Scheduling VCR Pillar extraction Retreat mining in original access areas Final Extraction (April 2064)

Reserves Mineral Reserves at a gold price of R265,000/kg Tonnes (Mt) Grade (g/t) Gold (‘000 oz) Dec June June Dec June June Dec June June Classification 2010 2010 2009 2010 2010 2009 2010 2010 2009 14.9 14.1 15.2 6.5 5.9 5.9 3,113 2,700 2,906 CM – Proved 1.8 3.7 3.7 5.5 4.2 4.2 308 505 505 CM – Probable 56.2 42.5 42.6 6.6 6.6 6.6 11,968 8,991 9,014 NOW - Probable 83.3 17.5 17.5 5.0 6.6 6.6 13,378 3,703 3,703 SOW – Probable 0 3.8 3.8 0 8.7 8.7 0 1,044 1,044 OM – Probable 156.1 81.6 82.8 5.7 6.5 6.5 28,766 16,943 17,171 Total AI Probable (BI) – 36.5 66.6 66.6 4.9 5.8 5.8 5,767 12,315 12,315 Phase 2 192.6 148.2 149.4 5.6 6.1 6.1 34,533 29,258 29,486 Total 27

Reserves Approximately one third of those of Gold Fields, AngloGold Ashanti Reserves (Moz) 160 120 80 40 0 ______________________ Source: Goldval.com as at September 2010

Existing Mine Infrastructure Colour Coding: Red Up Cast. Green Down Cast Twins Main Shaft Gold Rock Handling Capacity South Shaft Twins Ventilation Shaft Metallurgical Plant 1.4km SV 1 SV 2 33 Lvl 50 Level SV 3 Plugs 48 Lvl 51 Level Pump Station Intermediate Pump 49 Lvl Stations 50 Lvl 53 Lvl 56 Lvl Shaft damaged 58 Lvl 60 Lvl Rock Capacity 195ktpm Rock Capacity 175ktpm 63 Lvl Rock Capacity 120ktpm 65 Lvl 68 Lvl 70 Lvl 70a Lvl 71 Lvl 72 Lvl 84 Level Pump 75 Lvl Station 80 Level Pumps & 78 Lvl Refrigeration 80 Lvl Plants 83 Lvl 94 Level 85 Lvl Refrigeration 87 Lvl 83 Level Backfill 90 Lvl 90 Lvl Plant 93 Lvl 93 Lvl 94 Lvl 95 Lvl 95 Lvl 95a Level Pump 100 Lvl 100 Lvl Station Challenge is the limited 105 Lvl Storage from 95 Level to 105 Lvl 95a Level 110 Lvl 110 Lvl Station Station 110a Lvl Deepened Section 110a Pump 29

Planned Mine Infrastructure – Vent Shaft Deepening Headgear A-Frame early lift strategy Completed in May 2011 Rock winder installation progressing to plan – all major components manufactured and delivered to the mine 30

Main Shaft Main Shaft Ventilation Ventilation Planned Mine Infrastructure – Mine Development Shaft Shaft Reef silo’s 100 95 level to 105 level 100 level 100A level 105 level Reef silo’s 105 to 110 level 110 level Settlers & dams 105 to 110 level 110A level Reef silo’s 110 to 110A level 31

Planned Mine Infrastructure – Backfill Infrastructure Full Plant Tailings – Backfill plant under construction at South Shaft 32

Planned Mine Infrastructure – Tailings Storage Facility Return Water Dam – lining complete and TSF – tailings deposition to cover the toe drains is in progress both return dams being filled No.1 No.2 Penstock - returning water to fill the return water dam Completed Silt Trap and Neutralisation Plant 33